GoFintech Quantum Innovation Limited — Board/Management Information 2012

May 18, 2012

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

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NEW TIMES ENERGY CORPORATION LIMITED 新 時 代 能 源 有 限 公 司[*]

(incorporated in Bermuda with limited liability)

(Stock Code: 00166)

RESIGNATION OF INDEPENDENT NON-EXECUTIVE DIRECTOR, RE-DESIGNATION OF DIRECTOR AND CHANGE IN COMPOSITION OF AUDIT COMMITTEE, REMUNERATION COMMITTEE AND NOMINATION COMMITTEE

The Board announces that Mr. Fung has tendered his resignation as an independent nonexecutive Director, a member of the Audit Committee and the chairman of the Remuneration Committee and the Nomination Committee with effect from 18 May 2012.

The Board also announces that Mr. Chan has been re-designated as an independent nonexecutive Director of the Company from a non-executive Director of the Company and has been appointed as a member of the Audit Committee and the chairman of the Remuneration Committee and the Nomination Committee with effect from 18 May 2012.

RESIGNATION OF INDEPENDENT NON-EXECUTIVE DIRECTOR, MEMBER OF THE AUDIT COMMITTEE AND CHAIRMAN OF THE REMUNERATION COMMITTEE AND NOMINATION COMMITTEE

The board (‘‘Board’’) of directors (the ‘‘Directors’’) of New Times Energy Corporation Limited (the ‘‘Company’’, together with its subsidiaries, the ‘‘Group’’) announces that Mr. Fung Chi Kin (‘‘Mr. Fung’’) resigned as an independent non-executive Director of the Company, a member of the audit committee of the Company (the ‘‘Audit Committee’’) and the chairman of the remuneration committee of the Company (the ‘‘Remuneration Committee’’) and the nomination committee of the Company (the ‘‘Nomination Committee’’) with effect from 18 May 2012 due to increased devotion to his own business engagements and other commitments.

• For identification purpose only

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Mr. Fung has confirmed that he has no disagreement with the Board and there is no matter relating to his resignation that needs to be brought to the attention of the shareholders of the Company.

The Board would like to express its sincere gratitude to Mr. Fung for his valuable contributions to the Company during his tenure of office.

RE-DESIGNATION OF DIRECTOR, APPOINTMENT OF MEMBER OF AUDIT COMMITTEE AND CHAIRMAN OF REMUNERATION COMMITTEE AND NOMINATION COMMITTEE

The Board announces also that Mr. Chan Chi Yuen (‘‘Mr. Chan’’) has been re-designated from a non-executive director to an independent non-executive director of the Company and has been appointed as a member of the Audit Committee and the chairman of the Remuneration Committee and the Nomination Committee with effect from 18 May 2012.

Prior to his re-designation, Mr. Chan did not have any executive function or any management role in the Group, except for attending meetings of the Board. Notwithstanding his position as a non-executive director of the Company prior to his re-designation, the Board considers Mr. Chan to be independent and to have satisfied all the criteria for independence under Rule 3.13 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the ‘‘Listing Rules’’), save and except for Rule 3.13(7) of the Listing Rules in that he has been a non-executive Director until 18 May 2012.

Mr. Chan, aged 45, joined the Group in May 2006 as the chairman and an executive Director of the Group and re-designated as a non-executive Director of the Group in October 2006. Mr. Chan holds a bachelor degree with honours in Business Administration and a Master of Science degree in Corporate Governance and Directorship. He is a fellow member of the Hong Kong Institute of Certified Public Accountants and the Association of Chartered Certified Accountants and is an associate member of the Institute of Chartered Accountants in England and Wales. He is a practicing certified public accountant and has extensive experience in financial management, corporate finance and corporate governance.

Mr. Chan is currently an executive director of Kong Sun Holdings Limited (stock code: 00295) and Sam Woo Holdings Limited (stock code: 02322) and an independent nonexecutive director of Asia Energy Logistics Group Limited (stock code: 00351), China Gogreen Assets Investment Limited (stock code: 00397), China Gamma Group Limited (stock code: 00164), China Grand Forestry Green Resources Group Limited (stock code: 00910), Media Asia Group Holdings Limited (formerly known as Rojam Entertainment Holdings Limited) (stock code: 08075) and U-RIGHT International Holdings Limited (stock code: 00627), which shares are listed on the Hong Kong Stock Exchange.

Mr. Chan was also an independent non-executive director of The Hong Kong Building and Loan Agency Limited (stock code: 00145) from October 2009 to February 2011, Richly Field China Development Limited (stock code: 00313) from February 2009 to August 2010, Superb Summit International Timber Company Limited (stock code: 01228) from April 2007 to June 2010 and an executive director of Kong Sun Holdings Limited (stock code: 00295) from February 2007 to November 2009 and Amax Holdings Limited (stock code: 00959) from August 2005 to January 2009, which shares are listed on the Hong Kong Stock Exchange.

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Save as disclosed above, Mr. Chan has not held any directorships in other public companies the securities of which are listed on any securities market in Hong Kong or overseas in the last three years preceding the date of his re-designation and does not hold any position with the Group other than that of a non-executive Director from 25 October 2006 to 18 May 2012 and an independent non-executive Director from 18 May 2012.

As at the date of this announcement, Mr. Chan does not have any relationship with any Director, senior management, substantial shareholder or controlling shareholder of the Company.

As at the date of this announcement, Mr. Chan is interested in 450,000 underlying shares of the Company by way of share options granted by the Company under the share option scheme adopted on 17 May 2011. Save as disclosed above, Mr. Chan does not have any interest in shares or underlying shares of the Company or its associated corporations within the meaning of Part XV of the Securities and Futures Ordinance.

There is currently no service contract between the Company and Mr. Chan and there is no specific term in respect of the appointment, but it is subject to the retirement and re-election provision set out in the Bye-laws of the Company. Mr. Chan will receive from the Company an annual remuneration of HK$100,000 determined with reference to his duties and responsibilities within the Group, the prevailing market rate and the companies remuneration policy.

Save as disclosed above, there are no other matters concerning the re-designation of Mr. Chan which are required to be disclosed pursuant to Rules 13.51(2)(h) to 13.51(2)(v) of the Listing Rules nor any other matters that need to be brought to the attention of the shareholders of the Company.

By order of the Board New Times Energy Corporation Limited Cheng Kam Chiu, Stewart Chairman

Hong Kong, 18 May 2012

As at the date of this announcement, the Board comprises Mr. Cheng Kam Chiu, Stewart, Mr. Cheng Ming Kit and Mr. Sun Jiang Tian as executive directors; Mr. Wong Man Kong, Peter as non-executive director and Mr. Fung Siu To, Clement, Mr. Chan Chi Yuen and Mr. Chiu Wai On as independent non-executive directors.

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